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Why in news? Finance Minister Nirmala Sitharaman tabled the 16th Finance Commission (FC) report in Parliament on February 1, 2026, alongside the Union Budget. The government has accepted its key recommendation to maintain the states’ share in central taxes at 41% for the period of 2026-31. Vertical Devolution: Share of States in Central Taxes Key …
Subject: Disaster Management Context: The 16th Finance Commission has formally recommended the inclusion of heatwaves and lightning in India’s list of nationally notified disasters, a move triggered by record-breaking temperatures and rising fatalities in 2024-25. About 16th Finance Commission Recommends Heatwaves and Lightning as National Disasters: What is 16th Finance Commission: The Finance Commission is …
UPSC CURRENT AFFAIRS – 5 January 2026 covers important current affairs of the day, their backward linkages, their relevance for Prelims exam and MCQs on main articles InstaLinks : Insta Links help you think beyond the current affairs issue and help you think multidimensionally to develop depth in your understanding of these issues. These …
Source: IE Subject: Fiscal Federalism Context: State governments’ ability to sustain capital expenditure has come under focus as several States breached the 3% fiscal deficit norm using enhanced borrowing space during FY2021–FY2025. About State-led capital spending: What it is? State-led capital spending refers to expenditure by State governments on asset creation such as roads, irrigation, …
Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment. Q5. What are the current trends in States’ non-tax revenue mobilisation. Analyse the reasons for its decline. Suggest measures to improve the composition and growth of non-tax revenues. (15 M) Difficulty Level: Medium Reference: TH Why the question: Recent RBI …
UPSC CURRENT AFFAIRS – 9 June 2025 covers important current affairs of the day, their backward linkages, their relevance for Prelims exam and MCQs on main articles InstaLinks : Insta Links help you think beyond the current affairs issue and help you think multidimensionally to develop depth in your understanding of these issues. …
Source: BS Context: Shri T. Rabi Sankar, Deputy Governor of RBI, has been appointed as a part-time Member of the 16th Finance Commission (XVIFC) following the resignation of Shri Ajay Narayan Jha. About 16th Finance Commission: What is the Finance Commission? A constitutional body constituted under Article 280 of the Indian Constitution. It recommends the …
UPSC CURRENT AFFAIRS – 5 May 2025 covers important current affairs of the day, their backward linkages, their relevance for Prelims exam and MCQs on main articles InstaLinks : Insta Links help you think beyond the current affairs issue and help you think multidimensionally to develop depth in your understanding of these issues. These …
Syllabus: Indian Economy – Fiscal Federalism Source: Indian Express Context: As states demand greater fiscal autonomy and a larger share of the divisible tax pool, the 16th Finance Commission (FC) faces a complex challenge. About the 16th Finance Commission The 16th Finance Commission (FC)was constituted under Article 280 in December 2023, chaired by Arvind Panagariya, to recommend tax …
Topic: Constitutional Bodies Q4. Explain the role of Finance commission in maintaining fiscal federalism. In this context, what are the challenges ahead of newly constituted 16th Finance Commission? (250 words, 15M) Difficulty level: Moderate Reference: The Hindu, Insights on India Why the question: The sixteenth Finance Commission headed by former Niti Aayog Vice-Chairman Arvind Panagariya …
UPSC CURRENT AFFAIRS – 3 July 2024 covers important current affairs of the day, their backward linkages, their relevance for Prelims exam and MCQs on main articles InstaLinks : Insta Links help you think beyond the current affairs issue and help you think multidimensionally to develop depth in your understanding of these issues. These …
Syllabus: Constitutional Bodies: Finance Commission Source: TH Context: The 16th Finance Commission (FC) focuses on the devolution of the consolidated fund, with a mandate to support panchayats and municipalities as per Article 280 and the 73rd and 74th constitutional amendments. What is a Finance Commission? The Finance Commission in India is a constitutional body established …
GS Paper 2 Syllabus: Powers, Functions and Responsibilities of various Constitutional Bodies Source: TH Context: Soon the government will appoint a Finance Commission to determine how much of the Centre’s tax revenue should be given away to States (the vertical share) and how to distribute that among States (the horizontal sharing formula). What …
GS Paper 2 Syllabus: Issues and Challenges Pertaining to the Federal Structure, Devolution of Powers and Finances up to Local Levels and Challenges Therein Source: TH Direction: The article examines the difficulties the 16th Finance Commission will face as the process to establish the 16th FC gets underway. Context: The government will soon …
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